Algoma Steel Group

Algoma Steel Group, Inc. engages in the production of hot and cold rolled steel products. Its products include Sheet and Plate. The firm offers its products for automative, construction, infrastructure, energy, defense, transportation, and manufacturing industries. The company was founded on March 23, 2021 and is headquartered in Sault Ste. Marie, Canada.

Earnings data Q3 2022

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Algoma Steel Q4 Earnings: Operational Challenges Impact Profits

Algoma Steel's Q4 2024 faced operational setbacks that heavily impacted financial results, yet the company is making strategic adjustments and significant investments in sustainability and efficiency improvements. With the EAF project on track and a strategic market focus shift, Algoma is poised for recovery and improved performance in the upcoming fiscal year.

Algoma Steel Group reports resilient Q2 performance amid market challenges

Algoma Steel Group's Q2 performance reflects financial stability and operational resilience amidst market challenges.
The company's strong liquidity, focus on employee safety, and progress on the EAF project are key strengths driving future success.
While facing challenges from market conditions and financial complexities, Algoma has opportunities to leverage environmental programs and strategic initiatives for growth.

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Algoma Steel Group, Inc. engages in the production of hot and cold rolled steel products. Its products include Sheet and Plate. The firm offers its products for automative, construction, infrastructure, energy, defense, transportation, and manufacturing industries. The company was founded on March 23, 2021, and is headquartered in Sault Ste. Marie, Canada.

SAULT STE. MARIE, Ontario, Feb. 14, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today advised the repair and restart of its blast furnace is complete and steel production resumed on Sunday, February 11, 2024.

Algoma Resumes Normal Steel Production

Employees Discharged From Hospital and Timing of Blast Furnace Restart Remains On Track Employees Discharged From Hospital and Timing of Blast Furnace Restart Remains On Track

Algoma Addresses Casthouse Incident

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AIRI, ASTL and BX have been added to the Zacks Rank #5 (Strong Sell) List on February 8, 2023.

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NEW YORK , Feb. 7, 2024 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Algoma Steel Group Inc. ("Algoma" or the "Company") (NASDAQ: ASTL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext.

SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims on Behalf of Investors of Algoma Steel Group Inc. - ASTL

Algoma Steel Group Inc. (ASTL) Q3 2024 Earnings Call Transcript

Steel Shipments and Adjusted EBITDA In-line with Previously Announced Expectations Delivered Year-over-year Improvement Across Nearly All Metrics Provides Further Update on Coke-Making Utilities Structure Collapse Reiterated Outlook on Transformative EAF Project with $509.9 Million Invested to Date and 86% of Anticipated Costs Under Contract SAULT STE. MARIE, Ontario, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced results for its fiscal third quarter ended December 31, 2023.

Algoma Steel Group Reports Fiscal Third Quarter 2024 Financial Results

SAULT STE. MARIE, Ontario, Jan. 29, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its fiscal 2024 third quarter financial results after the market closes on Tuesday, February 6, 2024. A webcast and conference call will be held on Wednesday, February 7, 2024 at 11:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session.

Algoma Steel to Announce Fiscal 2024 Third Quarter Results February 6, 2024

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AAP, ASTL and BANR have been added to the Zacks Rank #5 (Strong Sell) List on January 26, 2023.

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SAULT STE. MARIE, Ontario, Jan. 23, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today provided an update further to the incident on Saturday, January 20 at its coke-making plant when a structure supporting utilities piping collapsed.

Algoma Steel Provides Update on Incident at Coke-Making Plant

SAULT STE. MARIE, Ontario, Jan. 20, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that in the early hours of Saturday, January 20, 2024 there was a collapse of a structure supporting utilities piping at our coke-making plant. There have been no injuries and the Algoma team is managing the occurrence with the safety of our employees and the community as our highest priority.  

Algoma Steel Reports Incident at Coke-Making Plant

Algoma Steel (ASTL) expects challenging third-quarter results due to soft demand, pricing issues from a UAW strike and seasonal maintenance.

Algoma Steel (ASTL) Provides Guidance for Fiscal Q3 Results

SAULT STE. MARIE, Ontario, Jan. 03, 2024 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today provided guidance for its fiscal third quarter ending December 31, 2023. Unless otherwise specified, all amounts are in Canadian dollars.

Algoma Steel Provides Fiscal Third Quarter 2024 Guidance

SAULT STE. MARIE, Ontario, Dec. 21, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that Andrew Schultz is retiring from the board of directors effective December 31, 2023.

Algoma Steel Group Announces Director Retirement

SAULT STE. MARIE, Ontario, Nov. 23, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced its Vice President - Sales, Rory Brandow, has indicated his pending retirement effective December 1st, 2023. The Company has identified Chris Ford, Algoma's current Director - US Sales and Customer Service, to succeed Rory as Vice President - Commercial.

Algoma Steel Announces Retirement of Vice President - Sales

Algoma Steel stock is undervalued due to its cost model and ongoing modernization efforts, which will expand production and lower costs. Earnings for the quarter were lower than expected due to UAW strikes and increased commodity input costs. Despite the mediocre earnings, Algoma Steel has made significant progress in de-risking its future prospects through plate mill modernization and the Electric Arc Furnace project.

Algoma Steel: Solid Earnings Results And Increased Transparency

Second Quarter In line with Previously Announced Expectations Positive Momentum on EAF Power Supply Reiterated Outlook on Transformative EAF Project with $455.7 Million Invested to Date SAULT STE. MARIE, Ontario, Nov. 02, 2023 (GLOBE NEWSWIRE) --  (November 2, 2023) – Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced results for its fiscal second quarter ended September 30, 2023.

Algoma Steel Group Reports Fiscal Second Quarter 2024 Financial Results

Algoma Steel Group Inc. is a Canadian steel provider that meets the criteria of being oversold with compelling valuations and a robust balance sheet. The company's shares have been on a downward trend, but there is potential for support at the recent December lows, making it attractive to value investors. Algoma's valuation is significantly lower than the sector average, with cash flow, earnings, and sales all below industry standards.

Algoma: Mr. Market Continues To Offer This Stock At A Steep Discount

SAULT STE. MARIE, Ontario, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that the Company will release its fiscal 2024 second quarter financial results after the market closes on Thursday, November 2, 2023. A webcast and conference call will be held on Friday, November 3, 2023 at 10:00 a.m. Eastern Time to review the Company's results, discuss recent events, and conduct a question-and-answer session.

Algoma Steel to Announce Fiscal 2024 Second Quarter Results November 2, 2023

Algoma Steel (ASTL) extends its iron ore purchase contract with U.S. Steel for two years, supporting its transition to electric arc furnace steelmaking and commitment to sustainable steel production.

Algoma Steel (ASTL) Extends Iron Ore Contract for EAF Transition

SAULT STE. MARIE, Ontario, Oct. 02, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced a two-year extension of its existing iron ore purchase contract with United States Steel Corporation (“U. S. Steel”) (NYSE: X), with an option to further extend for a third year solely at Algoma's discretion. The extended purchase contract is anticipated to cover the expected volumes of iron ore required to complete Algoma's transition from blast furnace to electric arc furnace (“EAF”) steelmaking.

Algoma Steel Announces Extension of Iron Ore Contract with U. S. Steel to Support Transition to Electric Arc Steelmaking

SAULT STE. MARIE, Ontario, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today provided guidance for its fiscal second quarter ending September 30, 2023. Unless otherwise specified, all amounts are in Canadian dollars.

Algoma Steel Provides Fiscal Second Quarter 2024 Guidance

Algoma Steel is transitioning to Electric Arc Furnace steel production, which will reduce maintenance costs, increase steel production, and improve margins. The company is undergoing a modernization project for its plate mill, which will double production capacity and generate incremental revenue and EBITDA. Algoma Steel has a strong financial position, with enough cash on hand to fund the remaining costs of the EAF project without relying on debt or cash flow.

Algoma Steel: Deeply Undervalued Steel Producer Undergoing A Radical Transformation

SAULT STE. MARIE, Ontario, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, announced today that as part of its longstanding support of the United Way, it is making a C$120,000 donation spread over three years to the United Way's Harvest Algoma project.

Algoma Steel donates C$120,000 to support United Way's Harvest Algoma

SAULT STE. MARIE, Ontario, Sept. 12, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or the “Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today issued its first annual environmental, social and governance (“ESG”) report (the “Report”). In this Report, Algoma provides an overview of its ESG strategy, approach to mitigating ESG risks and capturing ESG opportunities, and provides an update on the Company's ESG performance. The full Report can be found on the Company's website at www.algoma.com.

Algoma Steel Issues Inaugural Annual ESG Report

SAULT STE. MARIE, Ontario, Aug. 30, 2023 (GLOBE NEWSWIRE) -- Algoma Steel Group Inc. (NASDAQ: ASTL; TSX: ASTL) (“Algoma” or “the Company”), a leading Canadian producer of hot and cold rolled steel sheet and plate products, today announced that the Company will be participating in the Jefferies 2023 Industrials Conference on Wednesday, September 6, 2023 and Thursday, September 7, 2023. Prior to Algoma's attendance at this conference, the Company will post a copy of the presentation it intends to use in the Investors section of its website.

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